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500 Plaza Drive

Jeremy Levart & Mark Meisner Of Oak Funding Provide $38M Acquisition Loan For Office In Secaucus
FINANCEDOffice

Jeremy Levart & Mark Meisner Of Oak Funding Provide $38M Acquisition Loan For Office In Secaucus

500 Plaza Drive

$38,000,000

$81/SF

Building Size

466,440 SF

Asset Type

Office

Closing

Feb 18, 2025

AI

The asset involved in this transaction is an office property located at 500 Plaza Drive in Secaucus, with a total square footage of 466,440. The loan amount secured for the acquisition of this property is $38,000,000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $38,000,000
  • Address: 500 Plaza Drive
  • Market: Secaucus
  • Loan Amount: $38,000,000
  • Loan Type: Acquisition
  • Lender: Jeremy Levart & Mark Meisner - Oak Funding
  • Landlord: Signature Acquisitions

The key individuals involved in this transaction are Jeremy Levart and Mark Meisner from Oak Funding, who acted as the lenders for the acquisition loan. Signature Acquisitions is noted as the landlord associated with this property deal.

Players

Mark Meisner

Oak Funding

Lender

$1.1B

vol

11 deals

Lender
Oak Funding
Oak FundingLender

Secaucus Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93